Commercial-stage medical device manufacturer Modular Medical Inc. (NASDAQ: MODD ) recently signed a significant contract with a national U.S. pharmacy benefit manager (PBM).
The agreement officially makes the company's next-generation Pivot tubeless patch pump available through the national PBM network.
The Pivot tubeless patch pump is a simple, wearable insulin delivery platform designed to provide continuous subcutaneous insulin infusion with both basal and bolus insulin delivery over a three-day wear period.
Expanding Reach For Diabetes Therapeutics
Management anticipates that this new PBM engagement will broaden patient access to the Pivot insulin delivery system across the country.
Furthermore, securing this national contract serves to validate the tubeless patch pump as a viable and highly accessible therapeutic alternative for individuals living with diabetes.
"We believe this agreement with a national PBM, one of the largest in the country, represents an important commercialization milestone for our Pivot patch pump," said Jeb Besser, CEO of Modular Medical.
Read Also: EXCLUSIVE: Modular Medical Secures FDA Clearance for Pivot Software Upgrades
Strategic Value Of PBM Partnerships
Pharmacy benefit managers operate at the center of the complex U.S. healthcare ecosystem.
These organizations collaborate closely with health plans, employers, pharmacies, and medical manufacturers to successfully administer prescription drug benefits and elevate the overall standard of care.
PBMs hold the responsibility of evaluating a product's clinical value, negotiating complex reimbursement arrangements, and facilitating vital formulary placements .
By executing these functions, they enable patients to seamlessly acquire necessary medical therapies through their current healthcare benefit plans.
In August, Modular Medical initiated the first phase of commercialization of its Pivot tubeless patch pump across five strategically selected U.S. markets beginning in October 2026.
To support the launch, Modular Medical partnered with Inizio, a global commercialization partner.
In June, Modular Medical announced that the first patients have completed onboarding and training and are now actively using the Pivot tubeless insulin patch pump in real-world settings .
MODD Stock Price Activity: Modular Medical shares were up 9.06% to $3.73 at the time of publication on Friday, according to Benzinga Pro data .
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This article Modular Medical Secures National PBM Contract For Pivot Insulin Pump originally appeared on Benzinga.com
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